This is how it’s supposed to work: if one group of stakeholders (management, unions, shareholders) screw up a company, it closes and the valuable bits are brought back to life thanks to those dreaded private equity firms run by people like that awful Mitt Romney.

You may now consume your stockpiles. The Twinkie will return this summer, thanks to two private-equity firms that bought Hostess Brands. Daren Metropoulos, a principal at one of the firms, announced the Twinkie’s comeback this afternoon: “Our family is thrilled to have the opportunity to reestablish these iconic brands with new creative marketing ideas and renewed sales efforts and investment. We look forward to having America’s favorite snacks back on the shelf by this summer.”

The Metropouloses have a history of resurrecting iconic American brands — in 2010 they took over Pabst Blue Ribbon and have stewarded it through difficult times. The free market to the rescue once again.